Posted on 10/11/2012 8:22:47 AM PDT by dayna134
When we saw that the Labor Department reported a 30,000 drop in weekly jobless claims, the initial thought was that more suspect calculations may be involved. Then the thought that perhaps things may have improved so fast at the end of September that it skewed the data higher. As it turns out, the big drop in the weekly jobless claims does in fact have a huge asterisk attached to it.
CNBC and Dow Jones have both confirmed that this latest weekly jobless claims report was missing data from one large state. Bloomberg noted that the Labor Department spokesperson said that one state accounted for most of the plunge in claims.
(Excerpt) Read more at 247wallst.com ...
Let me guess....next week’s numbers will be another drop, relative to a 25k revision on this week’s numbers.
What state?
How about NAMING the large state?
I would suspect that the Labor department could do something similar, so that the estimated data could be applied and then later corrected when the actual numbers came in.
Why did they not do that? One wonders.
I would suspect that the Labor department could do something similar, so that the estimated data could be applied and then later corrected when the actual numbers came in.
Why did they not do that? One wonders.
Yeah leave out a state , etc. then the media will make sure every American hears these bogus numbers every minute until the election.
How much more will we take?
Liberals believe that one entity( government) owning everything is better than millions of competing interests. that doesn't work and results in concentration of power in government and tyranny.Socialism doesn't work.
Obamacare is government limiting our freedom of choice and is socialism taking over our healthcare..
Government is too big already, this expansion of government , this takeover of healthcare is tyranny.
Government is the problem and it has grown at all levels every single year, every month for the last 100 years.
They are tracking our kids in schools with smart IDs, Moochel is telling kids what they can eat, Bloomberg banned big sodas in New York, Obama took over our healthcare, They banned 100 watt light-bulbs , they tell us that we have to discriminate to hire people (affirmative action), soon cars will have to be 27 mpg , etc. This crap has to stop.
I started to write a first draft on how to finally limit government for the first time ever. something has to be done as the problem is government. It’s in personal page here.
Jack Welch had an article in the WSJ about the phony jobs numbers and why his was right. He explained how these jobs numbers are put together. They use census workers, honestly the same people who contacted you during the census, are still contacting people and asking questions to compile the jobs statistics and they can change the questions and methodology any time they want. The numbers are absolutely meaningless.
The best way to judge the unemployment is to look around you and see how many people in your family or on street are unemployed. How many have been laid off in your office and not found work, that sort of thing.
Illinois?
Was this the payoff for Obamas Justice department recently buying the mothballed prison in Northern Illinois?
And who/how/why in that one state has so obliged the Obama campaign?
The jobs numbers are put together by the census workers, they can do whatever they want with the methodology. There are no rules, no continuity, the numbers are a meaningless political organizing tool.
” Jack Welch had an article in the WSJ about the phony jobs numbers and why his was right. He explained how these jobs numbers are put together. They use census workers, honestly the same people who contacted you during the census, are still contacting people and asking questions to compile the jobs statistics and they can change the questions and methodology any time they want. The numbers are absolutely meaningless.”
The article proved how they skewed the numbers.
Didn’t the corrupt administration make a deal (payoff) with a large defense contractor to postpone scheduled layoffs until after the election?
The Labor Department will not release the name of the state.
My hunch is that it’s a large state with a Democrat governor—I’m California dreaming.
Typical P-Poor reporting. The state is not named so are we to even believe that a state is missing.
Up is down and left is right and there are Four Lights (only followers of Star Trek NG will get this one).
Liars figuring and all that.
LOL, I know. I heard about this on Varney & Co. first thing this morning, 4 hours later, still don't know which "large" state this is. Why are they keeping it a secret?
Not quite. Lockheed Martin was set to send out lay-off notices 60 days before Jan. 1 when sequestration is to start. By law, these notices MUST go out. If LM does so, these notices would arrive scant days before election. The WH has "promised" to re-imburse LM for ALL financial ramifications including lawyer costs it may incur for violating the WARN Act.
IOW, "LM, you go and break the law. We have your back."
"One omission by one state—you wouldn't think it would be a big deal, but in this case it drove the number down by 10%," said analyst Stephen Stanley with Pierpont Securities.
Economists are speculating the state could be California, the most populous state in the nation.
"It was likely a state with a large population and we suspect that it was California based on the occasional massive swings that have occurred in its claims data in the past," said Daniel Silver, an economist with JPMorgan, JPM +1.17%in a note.
"In short, this reading is worthless in terms of informing on the general economy," Mr. Stanley wrote in a research note.
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